Like everyone, I get my share of spam. But this is the first spam of this type I've ever received:

RealtyBid.com has sold over 4,000 properties through online auctions in the past three years, so don't delay.

These properties have been discounted for immediate sale by national lenders across the country. This is your opportunity to purchase real estate properties at greatly reduced prices. The terms of purchase are 5% down and a 30-day closing process.

Could it be that there is a glut of home for auction from foreclosures? Certainly the news from homebuilders on the housing downturn continues to be disappointing. Is that a bubble I hear popping?